ARK Invest, led by Cathie Wood, has increased its investment in Bitmine Immersion Technologies by $15.6 million, raising its total investment in the company to over $300 million.
Overview of ARK Invest's Investments
The investments were made across three of ARK's funds: ARK Innovation ETF (ARKK) acquired 227,569 shares, ARK Next Generation Internet ETF (ARKW) purchased 70,991 shares, and ARK Fintech Innovation ETF (ARKF) bought 40,553 shares.
Analysis of Bitmine's Share in ARK Invest's Portfolio
Bitmine's holdings now account for nearly half of ARK Invest's investment in Coinbase, with the company holding around $676 million in COIN stock.
Performance of Bitmine Shares
Bitmine shares closed Wednesday's trading session at $46.03, an 8% decrease from the previous price. In after-hours trading, shares fell another 2.22% to end at $45.01. Nevertheless, the stock is still up 490% year-to-date.
Despite the recent dip in Bitmine shares, the company is showing substantial annual growth and continues to attract attention from major investors like ARK Invest.
